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Oracle 1Z0-508 Exam Syllabus Topics:

SectionObjectives
Topic 1: General Ledger Setup- Chart of Accounts structure
- Currency and calendar setup
- Ledger configuration and setup
Topic 2: Journal Processing- Journal approval workflows
- Recurring journals and allocations
- Creating and managing journals
Topic 3: Security and Access Control- Role-based access control
- Ledger security rules
Topic 4: Ledger and Accounting Processes- Posting journals to ledger
- Period close process
- Accounting calendar periods
Topic 5: Reporting- Financial statements generation
- Standard and ad-hoc reporting

Oracle Fusion Financials 11g General Ledger Essentials Sample Questions:

When reconciling transactions, accounted amounts in a reconciliation report may be different due to differences in the currency conversion rates used. To mitigate the differences in the account balances you should ____________.

  • A. Add a ledger-balancing line in the intercompany Receivables account and rerun the report
  • B. Run the report using an additional common currency conversion rate
  • C. Add a ledger-balancing line in the intercompany Payables account and rerun the report
  • D. Run additional reports using a number of varied currency conversion rates
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

Explanation: Only visible for Fast2test members. You can sign-up / login (it's free).

What is the primary source of data that is used for the Financial Reporting Center?

  • A. the Code Combinations table
  • B. data from the balances cubes and dimensions contained in the chart of account segments
  • C. transaction tables
  • D. defined dimensions for journals
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

Explanation: Only visible for Fast2test members. You can sign-up / login (it's free).

You are required to enter the daily rates for currency conversion from British pound (GBP) to United States dollars (USD) each day. Which Excel add-in application do you use to load the daily rates?

  • A. Financial Reporting studio
  • B. Application Development Framework Integration
  • C. Web ADI
  • D. SmartVIew
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

Explanation: Only visible for Fast2test members. You can sign-up / login (it's free).

Which method will reverse accruals in the next accounting period?

  • A. Create two events, one for accrual and another for the reversal.
  • B. Create one entry and use Accrual Reversal GL Date.
  • C. Create one event and use the Accounting Reversal attribute.
  • D. Create one event and use the GL functionality to perform the reversal.
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

Explanation: Only visible for Fast2test members. You can sign-up / login (it's free).

What metric values are available on the General Ledger Dashboard?

  • A. Profit Centers, Period of Time, Cost Centers, Expenses Budgets versus
  • B. Schedule Compliance, Target Attainment, Service Level
  • C. Price Yield, Win-Loss Ratio, Campaign Performance
  • D. Cost of Goods Sold, Return on Equity
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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